Is Your Budget Leading Your Business To Profitability?

“Businesses that fail to budget ultimately fail themselves,” wrote Merida Capital Operating Partner and Cannabis Conference Advisory Board Member Colin Kelley in an article for Cannabis Dispensary. Your pro forma budget serves as a roadmap to your cannabis or hemp business’s success, so it is critical to understand the fundamentals of creating a budget, as well as understand how business budgets ebb and flow as your customer base, sales, staff, and overall business grow over time. In this session, we’ll detail how to create a budget that yields financial success—from capital and operating expenditures to commonly overlooked expenses—as well as the unique nuances of the cannabis industry. You’ll also learn about the importance of setting minimum profit margins and bottlenecks, and hurdles to profitability.